Evera Cabs offers to lease 1,000 BluSmart cars financed by PFC, IREDA

Evera Cabs has submitted a proposal to lease 1,000 BluSmart EVs financed by PFC and IREDA as part of its expansion strategy while lenders explore recovery from the defunct service

Evera Cabs has submitted an offer to the interim resolution professional (IRP) overseeing Gensol Engineering’s insolvency proceedings to lease 1,000 electric cars previously run by the now-defunct cab-hailing service BluSmart.

 

Both the firms, ride-hailing startup BluSmart and renewable energy firm Gensol, were owned by the same promoter group. BluSmart had leased over 4,000 cars from Gensol.

 

The fleet, financed by public sector lenders Power Finance Corporation (PFC) and Indian Renewable Energy Development Agency (IREDA), could support Evera’s expansion plans while offering lenders a potential recovery route.

 

“We have sent a proposal to the IRP for a monthly lease